Prudent Man Advisors LLC Acquires 2,389 Shares of Starbucks Corporation $SBUX

Prudent Man Advisors LLC boosted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 33.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,539 shares of the coffee company’s stock after buying an additional 2,389 shares during the period. Prudent Man Advisors LLC’s holdings in Starbucks were worth $874,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Alliance Wealth Advisors LLC boosted its stake in Starbucks by 2.1% during the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock valued at $474,000 after buying an additional 108 shares during the period. Brown Lisle Cummings Inc. lifted its stake in Starbucks by 1.4% during the second quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock worth $760,000 after purchasing an additional 117 shares during the last quarter. Diligent Investors LLC lifted its stake in Starbucks by 1.9% during the second quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock worth $562,000 after purchasing an additional 117 shares during the last quarter. Ted Buchan & Co lifted its stake in Starbucks by 1.5% during the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock worth $791,000 after purchasing an additional 120 shares during the last quarter. Finally, Alexander Labrunerie & CO. Inc. lifted its stake in Starbucks by 3.5% during the first quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock worth $349,000 after purchasing an additional 122 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Loop Capital set a $165.00 price target on Starbucks in a research note on Tuesday, August 12th. Stifel Nicolaus lifted their price target on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. UBS Group set a $94.00 price target on Starbucks and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. BMO Capital Markets reaffirmed an “outperform” rating and set a $115.00 price target (up previously from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. Finally, Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target for the company. in a research note on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.80.

Starbucks Trading Up 0.8%

NASDAQ SBUX opened at $86.09 on Friday. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The stock has a 50-day moving average of $85.01 and a 200-day moving average of $87.53. The firm has a market cap of $97.86 billion, a PE ratio of 37.11, a price-to-earnings-growth ratio of 4.32 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same period last year, the firm posted $0.93 EPS. The company’s revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is currently 105.17%.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.